Mortgage Backed Security pricing has rised again this morning due to the fact that the final Gross Domestic Product numbers were revised much lower than expected, along with additional positive remarks from the Fed Officials. The market is currently down 40 bps.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired. To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze!

The following information is current as of Wednesday 6-26-2013 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

The following chart shows market activity over the past 1 month:

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

Market Commentary (Neil Trenerry)

FNMA 30-Year:

2.5 Coupon: Open 92.1875 Change 1.0000

3.0 Coupon: Open 96.8906 Change 1.3906

3.5 Coupon: Open 100.7500 Change 0.8281

4.0 Coupon: Open 103.5469 Change 0.6406

Treasuries:

5 Year: Open 98.0781 Change 0.4141 Yield 1.4030

10 Year: Open 93.2969 Change 0.7813 Yield 2.5180

30 Year: Open 87.4063 Change 1.0938 Yield 3.5610

Key Economic Data

EUR/USD: Open 1.3038 Change -0.0047

GBP/USD: Open 1.5381 Change -0.0041

USD/JPY: Open 97.460 Change -0.360

Oil: Open 94.45

Key Economic Data:

Mortgage Market

Index: Actual 629.2, Last 648.9.

Purchase: Actual 214.8, Last 210.4.

Refinance: Actual 3041.4, Last 3208.5.

30-yr Rate: Actual 4.46%, Last 4.17%.

Building permits for May: Actual 0.985m, Last 0.974%. Change: Actual -2.0%, Last -3.1%.

GDP final for Q1

Index: Actual 1.8% Consensus 2.4%, Last 2.4%.

Consumer spending: Actual 2.6%, Last 3.4%.

Deflator: Actual 1.3%, Consensus 1.1%, Last 1.2%.

Sales: Actual 1.2%, Consensus 1.8%, Last 1.8%.

Advice:

It looks like the GDP numbers have helped return the market to the positive side. Perhaps now we might see a nice rally.

Sucky GDP has sparked a sweet move in bonds. Can you believe GDP comes in at 1.8%? THat is horrible. We need 5% growth just to create meaningful jobs! As I keep saying...now is not a good time to quit drugs and Bernanke knows that. Lets look for 102 on the near term and see if we can break through. Stay cautious thought...this market is as volitile as a pissed off tiger! It may look sweet, but it can still eat you.

Sell what you have...remind people that things can still get much worse and that rates are still AMAZING! It is all a matter of perspective...your job is to sell the correct perspective. Your job is NOT to sell hope

Trusted Industry Advisor

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software.

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